Sri Lanka: Hambantota Port to receive grinding unit and cement storage and bagging facilities

The Sri Lankan government is ready to expand the Hambantota port with the financial assistance of Exim Bank of China and the government of China. Exim Bank of China will provide a US$600m loan and a CNY1bn (US$157m) loan will be given by the government of China. Prior to this, the Sri Lankan government received Chinese government financial assistance to complete the first phase of the port.

The project is the biggest service and industrial port in the country constructed closest to the international maritime route in Hambantota. The nearest point to the main shipping route that connects the east and west, the port is expected to benefit from this strategic location. The region is also considered a better geographical location with fair weather conditions and closer to deep contours for such construction.

Under the port project, investment and business ventures are available for a cement grinding plant, a cement storage and bagging plant, a fertiliser storage/processing bagging plant, a LPG distribution facility, warehousing facility, a vehicle assembling plant, a flour mill, food processing and packaging facilities and also many other businesses related to import and export sector. There is reportedly a considerable response from the private sector to the available business opportunities.

According to the Sri Lanka Ports Authority chairman Priyath Wickrama the Port would generate revenue of over US$1bn and provide jobs to over 2000 people.